Everyone loves a stock that produces outsized gains relative to the S 500. A less flashy but rewarding accomplishment is when companies consistently raised the dividends they pay to investors. Higher dividends can lead to higher passive income, and provide a hands-off way to book gains without the need to sell stock.

American States Water (NYSE: AWR), United Parcel Service (NYSE: UPS), and (NYSE: ALLE) just raised their payouts to record highs. Here's why all three dividend stocks are worth buying now.

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Source Fool.com